NU12 # 12 New Spending Habits

----- Forwarded Message -----
From: leia pichay <leia_pich@yahoo.com>
To: "jorge.saguinsin.sentrep@blogger.com" <jorge.saguinsin.sentrep@blogger.com>
Sent: Monday, 5 November 2012, 20:29
Subject: NU12 # 12 New Spending Habits

Hi Sir, 

Please see below for my NU12 #12 NEW SPENDING HABITS (my last two entries dont have a grade):

I am an impulsive buyer ever since I earned my own money.  Since I worked for a credit card company before, I was offered credit cards from almost all the banks in the country.  Three years ago, I joined an eye-opener event.  It made me realize to be more practical and to be more frugal.  Also, I learned to share my blessings.  I set a portion of my money every year to buy school bags and school supplies for my chosen school.  Every year, since then, I have my Bag-to-School Program wherein I donate bags to elementary kids around 100 kids.  In order to balance or budget my money to my annual program, everyday needs and wants, I have set up the following as my new spending habits:

1.  Maintain 2 credits cards

From a number of 10 credit cards, I maintained only two credit cards.  If before I use it to purchase clothes, shoes and food, I only use it now for emergencies.  If in case I want something, I only purchase what I can pay for the due date.  I don't use beyond what I can pay.  Also, I pay my dues on time and the full amount so as to prevent paying late payment and other penalty fees.  

2.  Make a list and maintain an inventory of available items

When going to the grocery, I purchase what is indicated in my list.  Also, the list is in my phone so that anytime I can check what I need to buy.  I maintain an inventory of items I have in my phone.  For the clothes and shoes, I make a list quarterly that I need to buy and update my closet.  I diligently follow the list so as not to overspend.  Also, I keep track of all the things I have like list of books, crafts supplies, etc.  I have an inventory of the things I have so as not to duplicate the things I buy.

3.  Keep all the coins even to the last centavo

Before I used to disregard the coins and just leave them anywhere.  But I started keeping all the coins and realized that I earned more than I expected for the year.  I keep two coin boxes that I don't open until the end of the year, one is for 5 peso coins and the other is for 10 peso coins.  Also, I have a separate coin box that I can get coins or use anytime.

4.  Stop buying Magazines

I love buying YUMMY, YES and other magazines.  I realized that I spend too much on them and that I use or read them only once.  Since then, I stopped buying magazines and instead I read from the Internet for recipes and other news.  Also, I just borrow from friends or relatives if I want to read magazines.

5.  Cut down on cellphone bill

I keep track of my cellphone usage so as not to exceed the limit I have.  If I can email or use iMessage to communicate with someone, I do so so as not to deduct my text/call usage of my limit.  If I can use the landline, I usually do so so as to limit my expense in my cellphone bill. 3